InPost S.A. Q1 2026 Earnings Recap

InPost's Q1 results showed volume and revenue growth supported by international expansion, but a modest 0.2% stock reaction reflects market neutrality amid slight margin pressure and ongoing transformation costs in the U.K.

Key Takeaways

• Total parcel volume increased 32% year-over-year to nearly 360 million parcels, driven by strong international growth.
• Group revenue grew 31% to PLN 3.9 billion, with 53% coming from outside Poland, reflecting successful geographic diversification.
• Adjusted EBITDA declined 4% to PLN 902 million, weighed down by transformation expenses in the U.K. market.
• Network expansion continued with nearly 95,000 out-of-home points and 15,000 new automated parcel machines added over the past 12 months.
• U.K. operation showed volume growth of 220% following Yodel consolidation but remained loss-making at PLN 49 million, though March was profitable marking early signs of turnaround.